TikTok has closed a deal to keep the wildly popular video sharing app used by more than a billion people worldwide available in the U.S.

The agreement caps a six-year legal and geopolitical fight after Congress passed a law requiring TikTok to divest from its Chinese parent company or face a nationwide ban.

The Trump administration says the deal protects American users from potential Chinese influence.

But as Nick Schiffrin reports, many national security experts argue it falls short.

I'm going to save TikTok.

Today on TikTok, a presidential victory dance.

L is for the way you look at me.

On the beloved video sharing app that the Trump administration has now saved for 200 million Americans.

You know you're getting a legit. LaBoo Boo Boo is not a Lafoo.

TikTok's viral sensations have combined access to music.

With editing tricks made easy to create a social media monster.

I have a warm spot in my heart for TikTok.

And from one social media platform to another, President Trump announced the deal on

true social that TikTok U.S. would be owned by, quote, a group of great American patriots

and investors.

A TikTok press release says that Tech Giant Oracle will house Americans' data and secure the

TikTok U.S. app, which will not have to be re-downloaded.

TikTok U.S. will quote, retrain, test, and update the algorithm, although it will still be

owned by Chinese parent company ByteDance.

TikTok U.S.'s board of directors will be majority American, and the largest investors are Oracle,

the Emirati firm MGX, and the American firm Silver Lake, each of which owns 15%.

Bite Dance retains 19.9%.

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